Setting up or forming a limited liability company (LLC) online is simple, easy and affordable, inexpensive process for under $60 plus state fees.
An LLC is a corporate structure and you will not be held personally liable for the company debts or liabilities because, similar to a corporation, owners have
limited liability for the debts and actions of the LLC. Limited liability companies (“LLCs”) are hybrid entities that blend pass-through taxation of
partnerships and corporations and preferable because they allow you to save on taxes.
For example, the “New LLC Law” that became effective in 2018 and the 20% reduction in business taxes for small businesses earning less than $157,500.
LLCs were first created in Wyoming in 1987 and have become the preferred entities because LLCs are not bound by the same rigid rules of corporations and require
no formalities such as corporate minutes to hold unless you filed an IRS form and you treat your LLC as a "C" corporation.
All LLCs need an IRS EIN after setting the LLC up, and a Responsible Person as well s keeping track of members and LLCs financial transactions and a filing of Form 5472.
Foreign persons will have to report individually the transactions. Form 5472 is an information return for tax purposes and after an LLC is liquidated, it must file a
final Form 5472 as well as when adding members.

In 100% of the cases "LLC" stands for "Limited Liability Co" ($49 plus state fee). 65% of new businesses choose to be
LLCs because an LLC protects both the LLC owner and the LLC itself. A debt or other civil or criminal judgement debtor cannot attack
the LLC or the LLC owner. For example,
George gets excited and optimistic and starts a consulting business with Robert as LLC partners.
Albert sues George for a personal debts. Albert cannot attach Georges interest in
the LLC because the LLC is owned as a partnership with Robert. I.e., there are two LLC owners. In that case, Albert can only attach
any contributions that the LLC is contributing to George. George can use the LLC operating agreement to limit contributions
to Albert and thus thwart contributions to George so as to frustrate collections from Albert. In addition, a sole proprietor is
100% liable for company liabilities whereas an LLC is not. Finally, an LLC can manage and distribute LLC member percentages
according to its LLC member contributions as opposed to an S corporation that is limited to U.S. citizens and equal shareholder shares.
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REQUIRED LICENSES Legal StructureWhether an online, home, store, concession stand or a mobile cart, you will need to first select among sole owner/proprietor, partnership, LLC or corporation, all of which also require a General Business License (not a specific license to your type of business) as well. If your trade name is a business name other than your full personal legal name, you will need to file a DBA . For instance, your name is John Doe, and you do business as Best Widgets By John, the name must be registered with a DBA Biz Name because it is not your full legal name. Also, note that whatever item that you sell or lease and it is an item that can be touched (i.e., tangible such as equipment, toys, merchandise, electronics, prepared food) requires a state sales tax ID ( Sellers Permit ) to either buy or sell the items or products wholesale and or sell them retail. If you are hiring workers anytime soon, you will need a Federal EIN and a State EIN (employer identification number). Other instances that you will need a federal tax ID are: if you are a partnership, an independent contractor, and a corporation or an LLC . You can also obtain a federal tax ID as a sole proprietor and use it as a business tax ID in the place of a social security number. However, you will still need other registrations, such as licenses, an assumed business name DBA, and tax IDs as described above. Finally, even one person, sole owner/proprietors working from home or just online can form a LLC or incorporate, in which case, they will not need to file a DBA.

Q: Do I need anything other than a trade name DBA certificate? A: Yes, you may need a business tax id and a business tax registration as well as a resale ID if you sell taxable items.Q:What happens after I choose the structure of my business?A:First, you need a business license, and the DBA registration. Then, it depends whether you are an employer.. if you are one, you will need a federal and state employer tax number ID. In addition, if you sell any items or you lease any taxable items you will need a sales tax id number. Q:What if I have a partner, Do I need to register more than one DBA name?A:If you have a pertner, you still get one fictitious business name filing that has both partners names and home addresses. Q:
What if my business name is taken or inapropriate and it is denied? You may have to reapply with a different name or appeal the decision.
Do employees affect the fees or the type of name I want for my business? No, employees only require that you register for a federal as well as a state EIN ( Employer Identification Number).A:Q:What if I operate in another county area but my clients are in yet another county? Depending on the volume of your business you may have to get licensing to come in the county to do business but the ficitious business name is issued where you business is located so you will need only one registration for the county your office is located.A:When do I renew my trade name license? The fictitious business name statement registration is valid for 4-5 years then you need to renew.Q:Is there a list of business name certificates I can obtain from your company? No, our listing are private and not rendered to the public.A:Do I have to pay an annual fee to maintain my DBA registration? No, you don't have to pay anything annually but you do need to renew every 4-5 years and that requires a renewal fee..Q:How long before or after I start my business am I required to file a DBA? In most cases, you need to apply within 30 days of starting your businessA:Sole proprietorship vs. DBA vs. "S" corporation. From all these, naturally, LLC is better vs. Sole proprietor because an LLC saves taxes and protects your assets. On the other hand, an "S" corporation can help you better than an LLC or a sole proprietorship in many specific cases. Q:What if I decide not to start a business? Will I get a refund for my Fictitious Business Name fees I paid? Unfortunately, fees for DBA filing and registration are not refundable.A:Is a business name registration sufficient to start a business or is insurance required? Most businesses do need insurance but you may need to register your company name and obtain a business license as well as some type of tax ID depending on you type of business before starting your business.

STEP 1 Brainstorm for Business Ideas
Most entrepreneurs want to just start a business but don't know what business.
For the starting business, here is a list of ideas

Start a business from scratch

Buy a Business

Buy a Franchise

STEP 2 Get a Business Plan
Writing a business plan helps others will evaluate your Kent business. When seeking looking for investors or lenders will want to read your plan before funding.

A written guide to starting and running your Kent business successfully is essential. This plan will encourage loans, promote growth, and provide a map for you to follow.

Strategic Planning
Learn to strategize in order for your business to succeed.

Sample Business Plan
Use examples to learn how to create your own.

Writing The Business Plan
Detailed, step-by-step - write your plan.

STEP 3 Financing
All businesses require some form of financing. An integral component of starting a successful business is raising sufficient Funds. There are many challenges here, but numerous resources are available to help you. Here are some considerations

Start-Up Costs

Plan for the initial expenses your business will have.Estimating Costs
Learn to anticipate your initial business cost.

Breakeven Analysis
Know when your business breaks even and when you can expect a profit.

Financing Basics
How do you plan to finance your business? This is especially important for new enterprises.

Personal vs. Business Finances
You must know your personal finances and credit before starting out on your own.

STEP 4 Getting started in Kent
Now you may think you are ready but here are some legal considerations.

First you should choose a legal structure:

When beginning a business, you must decide what form of business entity to establish. The most common forms of business are the sole proprietorship, partnership, corporation, and S corporation. A Limited Liability Company (LLC) is a new business structure allowed by state statute.

Sole Proprietorships

Partnerships

Corporations

S Corporations

Limited Liability Company (LLC)

STEP 5 Starting to Market and Sell
Where are you going to run your business? Is it going to be home-based? or a commercial location? Hire and train employees to help you run the business. Get a
Kent merchant account to accept credit cards and you are ready to go!

STEP 4

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